Land $ 7,704,000 Buildings 33,416,000 Improvements Other Than Buildings 14,847,200 Equipment 11,575,000 Accumulated Depreciation, Capital Assets 25,346,200 During the year, expenditures for capital outlays amounted to $7,514,000. Of that amount, $4,809,000 was for buildings; the remainder was for improvements other than buildings. The capital outlay expenditures outlined in (2) were completed at the end of the year (and will begin to be depreciated next year). For purposes of financial statement presentation, all capital assets are depreciated using the straight-line method, with no estimated salvage value. Estimated lives are as follows: buildings, 40 years; improvements other than buildings, 20 years; and equipment, 10 years. In the governmental funds Statement of Revenues, Expenditures, and Changes in Fund Balances, the City reported proceeds from the sale of land in the amount of $601,400. The land originally cost $506,400. At the beginning of the year, general obligation bonds were outstanding in the amount of $4,015,000. Unamortized bond premium amounted to $32,000. During the year, debt service expenditures for the year amounted to: interest, $966,400; principal, $732,000. For purposes of government-wide statements, $3,200 of the bond premium should be amortized. No adjustment is necessary for interest accrual. At year-end, additional general obligation bonds were issued in the amount of $3,022,200, at par. Prepare the journal entries for the worksheet adjustments for each of the above situations. Record the entry for assets previously unrecorded. (Note: Use the general Accumulated Depreciation, Capital Assets account.) During the year, expenditures for capital outlays amounted to $7,514,000. Of that amount, $4,809,000 was for buildings; the remainder was for improvements other than building The capital outlay expenditures outlined in (2) were completed at the end of the year (and will begin to be depreciated next year). For purposes of financial statement presentation, all capital assets are depreciated using the straight-line method, with no estimated salvage value. Estimated lives are as follows: buildings, 40 years; improvements other than buildings, 20 years; and equipment, 10 years. (Note: Please use the specific Accumulated Depreciation accounts and not the general Accumulated Depreciation, Capital Assets account.) In the governmental funds Statement of Revenues, Expenditures, and Changes in Fund Balances, the City reported proceeds from the sale of land in the amount of $601,400. The land originally cost $506,400. At the beginning of the year, general obligation bonds were outstanding in the amount of $4,015,000. Unamortized bond premium amounted to $32,000. Record the entry for amortization of bond premium. Record the entry for debt service expenditure towards bonds. At year-end, additional general obligation bonds were issued in the amount of $3,022,200, at par.